Albemarle Co. (NYSE:ALB) Position Lessened by OppenheimerFunds Inc.

OppenheimerFunds Inc. lowered its position in shares of Albemarle Co. (NYSE:ALB) by 5.6% in the first quarter, HoldingsChannel reports. The firm owned 269,581 shares of the specialty chemicals company’s stock after selling 16,079 shares during the period. OppenheimerFunds Inc.’s holdings in Albemarle were worth $22,100,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALB. Creative Planning increased its holdings in Albemarle by 5.7% in the fourth quarter. Creative Planning now owns 4,451 shares of the specialty chemicals company’s stock valued at $343,000 after buying an additional 242 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of Albemarle during the fourth quarter worth about $2,055,000. Capital Advisors Inc. OK purchased a new position in shares of Albemarle during the fourth quarter worth about $5,169,000. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Albemarle by 2.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 8,408 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 229 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Albemarle during the fourth quarter worth about $732,000. Institutional investors and hedge funds own 89.84% of the company’s stock.

In other Albemarle news, SVP Deeanne J. Marlow bought 1,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $70.85 per share, for a total transaction of $70,850.00. Following the completion of the purchase, the senior vice president now owns 1,000 shares of the company’s stock, valued at $70,850. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.02% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on the company. TheStreet lowered Albemarle from a “b-” rating to a “c+” rating in a report on Monday, May 20th. Jefferies Financial Group dropped their price objective on Albemarle from $114.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, May 20th. They noted that the move was a valuation call. KeyCorp dropped their price objective on Albemarle from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Loop Capital dropped their price objective on Albemarle to $108.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Finally, ValuEngine raised Albemarle from a “strong sell” rating to a “sell” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $98.98.

Shares of ALB opened at $72.76 on Friday. Albemarle Co. has a fifty-two week low of $63.10 and a fifty-two week high of $108.74. The stock has a market cap of $7.65 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.96.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. Albemarle had a net margin of 20.54% and a return on equity of 15.53%. The business had revenue of $832.06 million during the quarter, compared to the consensus estimate of $827.94 million. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Albemarle Co. will post 6.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.3675 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.47 annualized dividend and a dividend yield of 2.02%. Albemarle’s dividend payout ratio (DPR) is 26.82%.

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Albemarle Company Profile

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.

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Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

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